Jignesh Shah led Moon Tech, formerly Financial Technologies staff protests against EOW action

Hundreds of employees of 63 Moons Technologies protested at Azad Maidan on Wednesday against the Economic Offences Wing (EOW) Mumbai for freezing the operational bank accounts of the company as a result of which the employees have been deprived of their salaries and are now in a fix.

The Jignesh Shah-led 63 Moons Technologies which was earlier known as Financial Technologies of India Limited was under the scanner of the probe agencies for not being able to work out 5.6 Billion worth trades. The alleged transaction of Rs 5,600 crore was carried out in 2013.

The government on April 4 had issued a directive to freeze operating accounts of the company, alleging complaints were received from a number of depositors against the National Spot Exchange (NSEL), owned by 63 Moons, that it had collected money by promising attractive returns but failed to return the deposits when the time for repayment came.

Mahmood Vaid, Senior Vice President, 63 Moons said, “The livelihood of thousands of company employees is now in danger. The company is unable to pay salaries until the bank accounts are operational again.”

“More than 200 vendors have also been devoid of their payments and the EOW of Mumbai should not act in a barbaric way and put lives of the employees in trouble,” said Vaid.

Pravin Sawant, Senior Vice President (HR), said, “We will be approaching the Bombay High Court against the EOW so that we will be able to pay dues to the vendors and salaries to the employees. Our team members met the Commissioner of Police and have written the Chief Minister for resolving the issues of the employees.”

By Imran Fazal, DNA India